Wednesday, August 4, 2021

Abu Dhabi cancels deal with TAV consortium for $3bn MTB project

Abu Dhabi’s state-owned airport operator has cancelled a contract with a consortium, led by Turkey’s TAV Insaat, and UAE-based Arabtec and Greek firm Consolidated Contractors Company (CCC) as its members, for a terminal at the airport, said a report.

 

The deal for the AED10.8 billion ($2.94 billion) Midfield Terminal Building was scrapped after the group over ran project costs, reported Reuters, citing senior sources.

 

Abu Dhabi Airports and TAV Insaat declined comment. Arabtec, which filed for liquidation in January, and CCC representatives could not be reached for comment.

 

The terminal, which is still under construction and was once scheduled to open in 2017, has been plagued by years of delays. Abu Dhabi Airports in 2019 said that construction of the new terminal was 97.6% complete.

 

Two sources said Abu Dhabi-headquartered Trojan had been awarded the contract to finish the terminal’s construction.

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